Celanese Corporation Reports Full Year 2025 and Fourth Quarter Earnings

DALLAS--( BUSINESS WIRE)--Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today reported full year 2025 U.S. GAAP diluted loss per share of $10.44 and adjusted earnings per share of $3.98. The Company generated net sales of $9.5 billion in 2025, a 7 percent decrease from the previous year consisting of a 4 percent decline in price and a 4 percent decline in volume, with a small currency benefit. Throughout the year, the Company experienced lower-than-normal demand levels in key end-markets like automotive, paints, coatings, and construction. Celanese remained focused on the strategic priorities of increasing cash flow to accelerate deleveraging, intensifying cost improvements, and driving top line growth. The Company reported 2025 consolidated operating loss of $786 million, adjusted EBIT of $1.2 billion, and operating EBITDA of $1.9 billion at margins of (8), 12, and 20 percent, respectively. The Company also generated operating cash flow of $1.1 billion and free cash flow of $773 million.

The difference between U.S. GAAP diluted earnings per share and adjusted earnings per share in 2025 was primarily due to Certain Items totaling $1.6 billion 1.

Celanese also reported fourth quarter 2025 U.S. GAAP diluted earnings per share of $0.23 and adjusted earnings per share of $0.67. The Company generated net sales of $2.2 billion in the fourth quarter, a sequential 9 percent decline driven by decreases of 7 percent in volume and 2 percent in price. Celanese reported fourth quarter consolidated operating profit of $93 million, adjusted EBIT of $251 million, and operating EBITDA of $435 million at margins of 4, 11, and 20 percent, respectively. These results were driven by greater than anticipated year-end destocking and competitive dynamics in acetate tow, with offsets from cost reductions in the quarter and mix improvement in Engineered Materials. The Company also reported operating cash flow of $252 million and free cash flow of $160 million in the quarter.

"Our full‑year performance demonstrates the strength of our action plans and disciplined execution in a challenging environment," said Scott Richardson, president and chief executive officer. "With over $770 million of free cash flow generation, over $120 million in cost reductions, the Micromax ® divestiture completed, near-term maturities refinanced, and programs in place to drive growth and enrich our EM pipeline, we've made considerable progress against our priorities of deleveraging, cost improvement, and top‑line growth. While fourth‑quarter results reflected anticipated seasonality and softer volumes, the decisive steps we took throughout 2025—portfolio actions, cost reductions, footprint optimization, and prudent refinancing—position us well for continued improvement."

____________________

Primarily related to impairment of goodwill and certain trade names arising from our annual goodwill and indefinite-lived intangible assets impairment tests.

Fourth Quarter 2025 Financial Highlights:

Three Months Ended

December 31,

2025

September 30,

2025

December 31,

2024

(unaudited)

(In $ millions, except per share data)

Net Sales

Engineered Materials

1,277

1,384

1,269

Acetyl Chain

940

1,061

1,110

Intersegment Eliminations

(13

)

(26

)

(21

)

Total

2,204

2,419

2,358

Operating Profit (Loss)

Engineered Materials

111

(1,327

)

(1,521

)

Acetyl Chain

135

215

Other Activities

(108

)

(83

)

(113

)

Total

(1,275

)

(1,419

)

Net Earnings (Loss)

(1,353

)

(1,922

)

Adjusted EBIT (1)

Engineered Materials

183

200

143

Acetyl Chain

146

187

252

Other Activities

(78

)

(61

)

(76

)

Total

251

326

319

Equity Earnings and Dividend Income, Other Income (Expense)

Engineered Materials

Acetyl Chain

Operating EBITDA (1)

435

517

503

Diluted EPS - continuing operations

0.23

(12.39

)

(17.55

)

Diluted EPS - total

0.17

(12.39

)

(17.60

)

Adjusted EPS (1)

0.67

1.34

1.33

Net cash provided by (used in) investing activities

(104

)

(59

)

(128

)

Net cash provided by (used in) financing activities

(324

)

(118

)

(189

)

Net cash provided by (used in) operating activities

252

447

494

Free cash flow (1)

160

375

381

____________________

(1)

See "Non-US GAAP Financial Measures" below.

Year Ended December 31,

2025

2024

(unaudited)

(In $ millions, except per share data)

Net Sales

Engineered Materials

5,390

5,595

Acetyl Chain

4,232

4,763

Intersegment Eliminations

(78

)

(90

)

Total

9,544

10,268

Operating Profit (Loss)

Engineered Materials

(958

)

(1,197

)

Acetyl Chain

539

946

Other Activities

(367

)

(469

)

Total

(786

)

(720

)

Net Earnings (Loss)

(1,151

)

(1,534

)

Adjusted EBIT (1)

Engineered Materials

720

841

Acetyl Chain

695

1,097

Other Activities

(265

)

(313

)

Total

1,150

1,625

Equity Earnings and Dividend Income, Other Income (Expense)

Engineered Materials

109

178

Acetyl Chain

132

138

Operating EBITDA (1)

1,893

2,353

Diluted EPS - continuing operations

(10.44

)

(14.04

)

Diluted EPS - total

(10.64

)

(14.11

)

Adjusted EPS (1)

3.98

8.18

Net cash provided by (used in) investing activities

(349

)

(470

)

Net cash provided by (used in) financing activities

(513

)

(1,313

)

Net cash provided by (used in) operating activities

1,146

966

Free cash flow (1)

773

498

____________________

(1)

See "Non-US GAAP Financial Measures" below.

Fourth Quarter Business Segment Overview

Engineered Materials

Engineered Materials reported full year net sales of $5.4 billion, a 4 percent decrease compared to the previous year, driven by a 4 percent decrease in volume and a 1 percent decrease in price, with a small currency benefit. Engineered Materials launched a complexity reduction program early in 2025 to reduce costs and lower inventories. The business realized approximately $70 million in cost savings through the year, while reducing inventory by over $100 million. Engineered Materials reported full year operating loss of $958 million, adjusted EBIT of $720 million, and operating EBITDA of $1.2 billion, with margins of (18), 13, and 22 percent, respectively. Following substantial first quarter European automotive destocking, these initiatives largely steadied the business through the year despite continual volume headwinds.

Engineered Materials focused on continued improvement in pipeline quality and velocity to fully leverage the business's broad specialty products portfolio, deep material science application development expertise, and industry-leading capabilities in design and prototyping, computer aided engineering (CAE) simulation, and material processing. Also in 2025, Engineered Materials continued to advance commercial capabilities through the launch of AskChemille.com, a digital assistant platform for advanced material selection offering a comprehensive range of engineered material options.

Engineered Materials reported fourth quarter net sales of $1.3 billion, representing a decrease of 8 percent compared to the previous quarter, consisting of a 6 percent decrease in volume and 2 percent decrease in price. Volumes were pressured by channel partner destocking in the western hemisphere and lower than expected demand in Asia. The business reported fourth quarter operating profit of $111 million, adjusted EBIT of $183 million, and operating EBITDA of $288 million, with margins of 9, 14, and 23 percent, respectively. The results were driven by the business's efforts to reduce costs and drive mix enrichment, despite volume headwinds.

Acetyl Chain

The Acetyl Chain reported full year net sales of $4.2 billion, an 11 percent decrease compared to the previous year driven by a 6 percent decrease in volume and a 6 percent decrease in price, with a small currency benefit. Persistently weak demand in key end-markets like paints, coatings, and construction impacted the vinyls business in the western hemisphere. Additionally, in acetate tow, elevated competitive pressures and weaker demand conditions challenged volumes, pricing, and sales mix. The Acetyl Chain responded by exercising the agility and optionality that has become the hallmark of the business, and drove continuous actions to maximize earnings. The business reported full year operating profit of $539 million, adjusted EBIT of $695 million, and operating EBITDA of $947 million with margins of 13, 16, and 22 percent, respectively. The Acetyl Chain took significant steps to improve the near-term and longer-term performance of the business, including:

The Acetyl Chain delivered fourth quarter net sales of $940 million, representing a sequential decrease of 11 percent, consisting of declines of 10 percent in volume and 1 percent in price. The overall demand environment remained challenged, with year-end seasonal declines greater than expected, especially in December. The Acetyl Chain delivered fourth quarter operating profit of $90 million, adjusted EBIT of $146 million, and operating EBITDA of $210 million at margins of 10, 16, and 22 percent, respectively. Utilizing the daily operating model, the business continued to take multiple actions to drive consistency of earnings. These included optimizing production at low-cost, U.S.-based sites, reducing operating rates at higher cost sites, and reducing global distribution costs to align with the demand environment.

Cash Flow and Tax

Celanese reported full year operating cash flow of $1.1 billion and free cash flow of $773 million. Full year 2025 operating cash flow and free cash flow results were mainly driven by cost reductions, disciplined management of capital expenditures, continued execution of the inventory reduction goals in Engineered Materials, and timing of working capital.

The effective U.S. GAAP income tax rate for the full year ended December 31, 2025 was 7 percent on a loss for the full year 2025, primarily driven by a book goodwill impairment charge of $1.1 billion for the Engineered Materials reporting unit that did not provide a tax benefit and an increase in valuation allowance on U.S. foreign tax credit carryforward due to the revised forecasts of foreign-source income. These impacts were partially offset by deferred tax benefits related to integration transactions and realignment of intangibles and tax benefits related to the resolution of tax examinations.

The effective tax rate for 2025 adjusted earnings was 8 percent excluding the impact of the goodwill charge that is non-deductible for tax purposes and other non-recurring items.

"Looking to the first quarter, we expect little change to the overall demand environment. We expect to see some modest seasonal improvements in volumes, and continued benefits from our cost reduction initiatives. These will be partially offset by the timing of the acetate tow dividend from our joint venture in China, which will be paid three times a year starting in the second quarter, similar to last year," continued Richardson. "Given this backdrop, we anticipate first quarter adjusted earnings per share to be $0.70 to $0.85."

"As we enter 2026, we remain focused on driving further cash generation, capturing additional cost savings, and advancing growth initiatives, to enhance long‑term value creation. We expect to have another strong year of cash generation with a targeted free cash flow of $650 to $750 million. Although the macro environment remains uncertain, we've created forward momentum. We believe the decisive actions we are taking position Celanese to meaningfully benefit from the eventual recovery."

Reconciliations of forecasted non-GAAP measures such as adjusted earnings per share, adjusted EBIT, operating EBITDA or free cash flow to the equivalent U.S. GAAP measures (diluted earnings per share, net earnings (loss) attributable to Celanese Corporation and net cash provided by (used in) operations, respectively), are not available without unreasonable efforts because a forecast of Certain Items, such as mark-to-market pension gains/losses, and other items is not practical. For more information, see "Non-GAAP Financial Measures" below.

The Company's prepared remarks related to the fourth quarter will be posted on its website at investors.celanese.com under Financial Information/Financial Document Library on February 17, 2026. Information about Non-US GAAP measures is included in a Non-US GAAP Financial Measures and Supplemental Information document posted on our investor relations website under Financial Information/Non-GAAP Financial Measures. See also "Non-GAAP Financial Measures" below.

Celanese Corporation is a global leader in chemistry, producing specialty material solutions used across most major industries and consumer applications. Our businesses use our chemistry, technology and commercial expertise to create value for our customers, employees and shareholders. We support sustainability by responsibly managing the materials we create and growing our portfolio of sustainable products to meet customer and societal demand. We strive to make a positive impact in our communities and to foster inclusivity across our teams. Celanese Corporation is a Fortune 500 company that employs more than 11,000 employees worldwide with 2025 net sales of $9.5 billion.

Forward-Looking Statements

This release may contain "forward-looking statements," which include information concerning the Company's plans, objectives, goals, strategies, future revenues, cash flow, financial performance, synergies, capital expenditures, deleveraging efforts, planned cost reductions, dividend policy, financing needs and other information that is not historical information. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements contained in this release. These risks and uncertainties include, among other things: the ability to successfully achieve planned cost reductions; changes in general economic, business, political and regulatory conditions in the countries or regions in which we operate; the length and depth of product and industry business cycles, particularly in the automotive, electrical, textiles, electronics and construction industries; volatility or changes in the price and availability of raw materials and energy, particularly changes in the demand for, supply of, and market prices of ethylene, methanol, natural gas, carbon monoxide, wood pulp, hexamethylene diamine, Polyamide 66 ("PA66"), polybutylene terephthalate, ethanol, natural gas and fuel oil, and the prices for electricity and other energy sources; the ability to pass increases in raw materials prices, logistics costs and other costs on to customers or otherwise improve margins through price increases; the possibility that we will not be able to realize the anticipated benefits of the Mobility & Materials business (the "M&M Business") we acquired from DuPont de Nemours, Inc. (the "M&M Acquisition"), including synergies and growth opportunities, whether as a result of difficulties arising from the operation of the M&M Business or other unanticipated delays, costs, inefficiencies or liabilities; additional impairments of goodwill or intangible assets; increased commercial, legal or regulatory complexity of entering into, or expanding our exposure to, certain end markets and geographies; risks in the global economy and equity and credit markets and their potential impact on our ability to pay down debt in the future and/or refinance at suitable rates, in a timely manner, or at all; risks and costs associated with increased leverage from the M&M Acquisition, including increased interest expense and potential reduction of business and strategic flexibility; the ability to maintain plant utilization rates and to implement planned capacity additions, expansions and maintenance; the ability to reduce or maintain current levels of production costs and to improve productivity by implementing technological improvements to existing plants; increased price competition and the introduction of competing products by other companies; the ability to identify desirable potential acquisition or divestiture opportunities and to complete such transactions, including obtaining regulatory approvals, consistent with the Company's strategy; market acceptance of our products and technology; compliance and other costs and potential disruption or interruption of production or operations due to accidents, interruptions in sources of raw materials, transportation, logistics or supply chain disruptions, cybersecurity incidents, terrorism or political unrest, public health crises, or other unforeseen events or delays in construction or operation of facilities, including as a result of geopolitical conditions, the direct or indirect consequences of acts of war or conflict (such as the Russia-Ukraine conflict or conflicts in the Middle East) or terrorist incidents or as a result of weather, natural disasters, or other crises; the ability to obtain governmental approvals and to construct facilities on terms and schedules acceptable to the Company; changes in applicable tariffs, duties and trade agreements, tax rates or legislation throughout the world including, but not limited to, anti-dumping and countervailing duties, adjustments, changes in estimates or interpretations or the resolution of tax examinations or audits that may impact recorded or future tax impacts and potential regulatory and legislative tax developments in the United States and other jurisdictions; changes in the degree of intellectual property and other legal protection afforded to our products or technologies, or the theft of such intellectual property; potential liability for remedial actions and increased costs under existing or future environmental, health and safety regulations, including those relating to climate change or other sustainability matters; potential liability resulting from pending or future claims or litigation, including investigations or enforcement actions, or from changes in the laws, regulations or policies of governments or other governmental activities, in the countries in which we operate; our level of indebtedness, which could diminish our ability to raise additional capital to fund operations or limit our ability to react to changes in the economy or the chemicals industry, and the success of our deleveraging efforts, as well as any changes to our credit ratings; changes in currency exchange rates and interest rates; tax rates and changes thereto; and various other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission.

Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

Non-GAAP Financial Measures

Presentation

This document presents the Company's two business segments, Engineered Materials and the Acetyl Chain.

Use of Non-US GAAP Financial Information

This release uses the following Non-US GAAP measures: adjusted EBIT, adjusted EBIT margin, operating EBITDA, operating EBITDA margin, adjusted earnings per share and free cash flow. These measures are not recognized in accordance with US GAAP and should not be viewed as an alternative to US GAAP measures of performance or liquidity. The most directly comparable financial measure presented in accordance with US GAAP in our consolidated financial statements for adjusted EBIT and operating EBITDA is net earnings (loss) attributable to Celanese Corporation; for adjusted EBIT margin is operating margin; for operating EBITDA margin is operating margin; for adjusted earnings per share is earnings (loss) from continuing operations attributable to Celanese Corporation per common share-diluted; and for free cash flow is net cash provided by (used in) operations.

Definitions of Non-US GAAP Financial Measures

Note: The income tax expense (benefit) on Certain Items ("Non-GAAP adjustments") is determined using the applicable rates in the taxing jurisdictions in which the Non-GAAP adjustments occurred and includes both current and deferred income tax expense (benefit). The income tax rate used for adjusted earnings per share approximates the midpoint in a range of forecasted tax rates for the year. This range may include certain partial or full-year forecasted tax opportunities and related costs, where applicable, and specifically excludes changes in uncertain tax positions, discrete recognition of GAAP items on a quarterly basis, other pre-tax items adjusted out of our GAAP earnings for adjusted earnings per share purposes and changes in management's assessments regarding the ability to realize deferred tax assets for GAAP. In determining the adjusted earnings per share tax rate, we reflect the impact of foreign tax credits when utilized, or expected to be utilized, absent discrete events impacting the timing of foreign tax credit utilization. We analyze this rate quarterly and adjust it if there is a material change in the range of forecasted tax rates; an updated forecast would not necessarily result in a change to our tax rate used for adjusted earnings per share. The adjusted tax rate is an estimate and may differ from the actual tax rate used for GAAP reporting in any given reporting period. Table 3a of our Non-US GAAP Financial Measures and Supplemental Information document summarizes the reconciliation of our estimated GAAP effective tax rate to the adjusted tax rate. The estimated GAAP rate excludes discrete recognition of GAAP items due to our inability to forecast such items. As part of the year-end reconciliation, we will update the reconciliation of the GAAP effective tax rate to the adjusted tax rate for actual results.

Reconciliation of Non-US GAAP Financial Measures

Reconciliations of the Non-US GAAP financial measures used in this press release to the comparable US GAAP financial measure, together with information about the purposes and uses of Non-US GAAP financial measures, are included in our Non-US GAAP Financial Measures and Supplemental Information document filed as an exhibit to our Current Report on Form 8-K filed with the SEC on or about February 17, 2026 and also available on our website at investors.celanese.com under Financial Information/Financial Document Library.

Results Unaudited

The results in this document, together with the adjustments made to present the results on a comparable basis, have not been audited and are based on internal financial data furnished to management. Quarterly results should not be taken as an indication of the results of operations to be reported for any subsequent period or for the full fiscal year.

Certain prior period amounts have been revised to correct for certain prior period immaterial errors. See Note 1 to our Annual Report on Form 10-K for the annual period ending December 31, 2025.

Supplemental Information

Additional information about our prior period performance is included in our Quarterly Reports on Form 10-Q and in our Non-US GAAP Financial Measures and Supplemental Information document.

Consolidated Statements of Operations - Unaudited

Three Months Ended

December 31,

2025

September 30,

2025

December 31,

2024

(In $ millions, except share and per share data)

Net sales

2,204

2,419

2,358

Cost of sales

(1,781

)

(1,898

)

(1,832

)

Gross profit

423

521

526

Selling, general and administrative expenses

(223

)

(231

)

(263

)

Amortization of intangible assets

(40

)

(42

)

(40

)

Research and development expenses

(32

)

(31

)

(31

)

Other (charges) gains, net

(39

)

(1,491

)

(1,621

)

Foreign exchange gain (loss), net

Gain (loss) on disposition of businesses and assets, net

)

Operating profit (loss)

(1,275

)

(1,419

)

Equity in net earnings (loss) of affiliates

Non-operating pension and other postretirement employee benefit (expense) income

(27

)

Interest expense

(177

)

(177

)

(164

)

Interest income

Dividend income - equity investments

Other income (expense), net

—

Earnings (loss) from continuing operations before tax

(1,360

)

(1,533

)

Income tax (provision) benefit

(384

)

Earnings (loss) from continuing operations

(1,353

)

(1,917

)

Earnings (loss) from operation of discontinued operations

)

—

)

Income tax (provision) benefit from discontinued operations

—

Earnings (loss) from discontinued operations

)

—

)

Net earnings (loss)

(1,353

)

(1,922

)

Net (earnings) loss attributable to noncontrolling interests

)

Net earnings (loss) attributable to Celanese Corporation

(1,357

)

(1,925

)

Amounts attributable to Celanese Corporation

Earnings (loss) from continuing operations

(1,357

)

(1,920

)

Earnings (loss) from discontinued operations

)

—

)

Net earnings (loss)

(1,357

)

(1,925

)

Earnings (loss) per common share - basic

Continuing operations

0.23

(12.39

)

(17.55

)

Discontinued operations

(0.06

)

—

(0.05

)

Net earnings (loss) - basic

0.17

(12.39

)

(17.60

)

Earnings (loss) per common share - diluted

Continuing operations

0.23

(12.39

)

(17.55

)

Discontinued operations

(0.06

)

—

(0.05

)

Net earnings (loss) - diluted

0.17

(12.39

)

(17.60

)

Weighted average shares (in millions)

Basic

109.6

109.4

Diluted

109.8

109.6

109.4

Consolidated Statements of Operations - Unaudited

Year Ended December 31,

2025

2024

(In $ millions, except share and per share data)

Net sales

9,544

10,268

Cost of sales

(7,592

)

(7,932

)

Gross profit

1,952

2,336

Selling, general and administrative expenses

(899

)

(1,033

)

Amortization of intangible assets

(164

)

(159

)

Research and development expenses

(125

)

(130

)

Other (charges) gains, net

(1,581

)

(1,744

)

Foreign exchange gain (loss), net

Gain (loss) on disposition of businesses and assets, net

)

(14

)

Operating profit (loss)

(786

)

(720

)

Equity in net earnings (loss) of affiliates

127

196

Non-operating pension and other postretirement employee benefit (expense) income

(20

)

Interest expense

(701

)

(676

)

Refinancing expense

(68

)

—

Interest income

Dividend income - equity investments

122

128

Other income (expense), net

Earnings (loss) from continuing operations before tax

(1,220

)

(1,019

)

Income tax (provision) benefit

(507

)

Earnings (loss) from continuing operations

(1,130

)

(1,526

)

Earnings (loss) from operation of discontinued operations

(24

)

(10

)

Income tax (provision) benefit from discontinued operations

Earnings (loss) from discontinued operations

(21

)

Net earnings (loss)

(1,151

)

(1,534

)

Net (earnings) loss attributable to noncontrolling interests

(14

)

Net earnings (loss) attributable to Celanese Corporation

(1,165

)

(1,542

)

Amounts attributable to Celanese Corporation

Earnings (loss) from continuing operations

(1,144

)

(1,534

)

Earnings (loss) from discontinued operations

(21

)

Net earnings (loss)

(1,165

)

(1,542

)

Earnings (loss) per common share - basic

Continuing operations

(10.44

)

(14.04

)

Discontinued operations

(0.20

)

(0.07

)

Net earnings (loss) - basic

(10.64

)

(14.11

)

Earnings (loss) per common share - diluted

Continuing operations

(10.44

)

(14.04

)

Discontinued operations

(0.20

)

(0.07

)

Net earnings (loss) - diluted

(10.64

)

(14.11

)

Weighted average shares (in millions)

Basic

109.5

109.3

Diluted

109.5

109.3

Consolidated Balance Sheets - Unaudited

As of

December 31,

2025

As of

December 31,

2024

(In $ millions)

ASSETS

Current Assets

Cash and cash equivalents

1,263

962

Trade receivables - third party and affiliates, net

922

1,121

Non-trade receivables, net

545

493

Inventories

2,220

2,284

Assets held for sale

492

—

Other assets

251

266

Total current assets

5,693

5,126

Investments in affiliates

1,252

1,217

Property, plant and equipment, net

5,076

5,273

Operating lease right-of-use assets

359

388

Deferred income taxes

1,359

1,251

Other assets

601

555

Goodwill

4,171

5,387

Intangible assets, net

3,184

3,641

Total assets

21,695

22,838

LIABILITIES AND EQUITY

Current Liabilities

Short-term borrowings and current installments of long-term debt - third party and affiliates

1,204

1,501

Trade payables - third party and affiliates

1,279

1,228

Liabilities held for sale

—

Other liabilities

1,049

1,157

Income taxes payable

Total current liabilities

3,683

3,890

Long-term debt, net of unamortized deferred financing costs

11,394

11,078

Deferred income taxes

512

923

Uncertain tax positions

208

286

Benefit obligations

344

396

Operating lease liabilities

265

294

Other liabilities

817

408

Commitments and Contingencies

Shareholders' Equity

Treasury stock, at cost

(5,482

)

(5,486

)

Additional paid-in capital

431

409

Retained earnings

9,876

11,054

Accumulated other comprehensive income (loss), net

(776

)

(848

)

Total Celanese Corporation shareholders' equity

4,049

5,129

Noncontrolling interests

423

434

Total equity

4,472

5,563

Total liabilities and equity

21,695

22,838

Non-U.S. GAAP Financial Measures and Supplemental Information

February 17, 2026

In this document, the terms the "Company," "we" and "our" refer to Celanese Corporation and its subsidiaries on a consolidated basis.

Purpose

The purpose of this document is to provide information of interest to investors, analysts and other parties including supplemental financial information and reconciliations and other information concerning our use of non-U.S. GAAP financial measures. This document is updated quarterly.

Presentation

This document presents the Company's two business segments, Engineered Materials and the Acetyl Chain.

Use of Non-U.S. GAAP Financial Measures

From time to time, management may publicly disclose certain numerical "non-GAAP financial measures" in the course of our earnings releases, financial presentations, earnings conference calls, investor and analyst meetings and otherwise. For these purposes, the Securities and Exchange Commission ("SEC") defines a "non-GAAP financial measure" as a numerical measure of historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that effectively exclude amounts, included in the most directly comparable measure calculated and presented in accordance with U.S. GAAP, and vice versa for measures that include amounts, or are subject to adjustments that effectively include amounts, that are excluded from the most directly comparable U.S. GAAP measure so calculated and presented. For these purposes, "GAAP" refers to generally accepted accounting principles in the United States.

Non-GAAP financial measures disclosed by management are provided as additional information to investors, analysts and other parties because the Company believes them to be important supplemental measures for assessing our financial and operating results and as a means to evaluate our financial condition and period-to-period comparisons. These non-GAAP financial measures should be viewed as supplemental to, and should not be considered in isolation or as alternatives to, net earnings (loss), operating profit (loss), operating margin, cash flow from operating activities (together with cash flow from investing and financing activities), earnings per share or any other U.S. GAAP financial measure. These non-GAAP financial measures should be considered within the context of our complete audited and unaudited financial results for the given period, which are available on the Financial Information/Financial Document Library page of our website, investors.celanese.com. The definition and method of calculation of the non-GAAP financial measures used herein may be different from other companies' methods for calculating measures with the same or similar titles. Investors, analysts and other parties should understand how another company calculates such non-GAAP financial measures before comparing the other company's non-GAAP financial measures to any of our own. These non-GAAP financial measures may not be indicative of the historical operating results of the Company nor are they intended to be predictive or projections of future results.

Pursuant to the requirements of SEC Regulation G, whenever we refer to a non-GAAP financial measure, we will also present in this document, in the presentation itself or on a Form 8-K in connection with the presentation on the Financial Information/Financial Document Library page of our website, investors.celanese.com, to the extent practicable, the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure.

This document includes definitions and reconciliations of non-GAAP financial measures used from time to time by the Company.

Specific Measures Used

This document provides information about the following non-GAAP measures: adjusted EBIT, adjusted EBIT margin, operating EBITDA, operating EBITDA margin, operating profit (loss) attributable to Celanese Corporation, adjusted earnings per share, net debt, free cash flow and return on invested capital (adjusted). The most directly comparable financial measure presented in accordance with U.S. GAAP in our consolidated financial statements for adjusted EBIT and operating EBITDA is net earnings (loss) attributable to Celanese Corporation; for adjusted EBIT margin and operating EBITDA margin is operating margin; for operating profit (loss) attributable to Celanese Corporation is operating profit (loss); for adjusted earnings per share is earnings (loss) from continuing operations attributable to Celanese Corporation per common share-diluted; for net debt is total debt; for free cash flow is net cash provided by (used in) operations; and for return on invested capital (adjusted) is net earnings (loss) attributable to Celanese Corporation divided by the sum of the average of beginning and end of the year short- and long-term debt and Celanese Corporation shareholders' equity.

Definitions

Supplemental Information

Supplemental Information we believe to be of interest to investors, analysts and other parties includes the following:

Results Unaudited

Certain prior period amounts have been revised to correct for certain prior period immaterial errors. See Note 1 to our Annual Report on Form 10-K for the annual period ending December 31, 2025.

Table 1

Adjusted EBIT and Operating EBITDA - Reconciliation of Non-GAAP Measures - Unaudited

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions)

Net earnings (loss) attributable to Celanese Corporation

(1,165

)

(1,357

)

197

(24

)

(1,542

)

(1,925

)

113

152

118

(Earnings) loss from discontinued operations

—

Interest income

(24

)

(33

)

(10

)

(13

)

Interest expense

701

177

170

676

164

169

174

169

Refinancing expense

—

Income tax provision (benefit)

(90

)

(15

)

(77

)

507

384

Certain Items attributable to Celanese Corporation (Table 8)

1,639

1,520

2,009

1,696

114

102

Adjusted EBIT

1,150

251

326

342

231

1,625

319

454

448

404

Depreciation and amortization expense (1)

743

184

191

188

180

728

184

187

181

176

Operating EBITDA

1,893

435

517

530

411

2,353

503

641

629

580

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions)

Engineered Materials

—

Acetyl Chain

—

Other Activities (2)

—

Accelerated depreciation and amortization expense

—

Depreciation and amortization expense (1)

743

184

191

188

180

728

184

187

181

176

Total depreciation and amortization expense

760

196

194

190

180

801

185

203

192

221

(1)

Excludes accelerated depreciation and amortization expense as detailed in the table above, which amounts are included in Certain Items above.

(2)

Other Activities includes corporate Selling, general and administrative ("SG&A") expenses, results of captive insurance companies and certain components of net periodic benefit cost (interest cost, expected return on plan assets and net actuarial gains and losses).

Table 2

Supplemental Segment Data and Reconciliation of Segment Adjusted EBIT and Operating EBITDA - Non-GAAP Measures - Unaudited

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions, except percentages)

Operating Profit (Loss) / Operating Margin

Engineered Materials

(958

)

(17.8

111

8.7

(1,327

)

(95.9

164

11.4

7.3

(1,197

)

(21.4

(1,521

)

(119.9

100

6.8

136

9.3

6.4

Acetyl Chain

539

12.7

9.6

135

12.7

153

13.7

161

14.4

946

19.9

215

19.4

238

20.0

241

20.0

252

20.0

Other Activities (1)

(367

)

(108

)

(83

)

(86

)

(90

)

(469

)

(113

)

(93

)

(130

)

(133

)

Total

(786

)

(8.2

4.2

(1,275

)

(52.7

231

9.1

165

6.9

(720

)

(7.0

(1,419

)

(60.2

245

9.3

247

9.3

207

7.9

Less: Net Earnings (Loss) Attributable to NCI for Engineered Materials

—

)

Less: Net Earnings (Loss) Attributable to NCI for Acetyl Chain

Operating Profit (Loss) Attributable to Celanese Corporation

(800

)

(8.4

4.1

(1,279

)

(52.9

228

9.0

161

6.7

(728

)

(7.1

(1,422

)

(60.3

241

9.1

249

9.4

204

7.8

Operating Profit (Loss) / Operating Margin Attributable to Celanese Corporation

Engineered Materials

(964

)

(17.9

111

8.7

(1,330

)

(96.1

163

11.3

7.1

(1,196

)

(21.4

(1,523

)

(120.0

6.6

140

9.5

6.5

Acetyl Chain

531

12.5

9.3

134

12.6

151

13.5

159

14.2

937

19.7

214

19.3

236

19.8

239

19.9

248

19.7

Other Activities (1)

(367

)

(108

)

(83

)

(86

)

(90

)

(469

)

(113

)

(93

)

(130

)

(133

)

Total

(800

)

(8.4

4.1

(1,279

)

(52.9

228

9.0

161

6.7

(728

)

(7.1

(1,422

)

(60.3

241

9.1

249

9.4

204

7.8

Equity Earnings and Dividend Income, Other Income (Expense) Attributable to Celanese Corporation

Engineered Materials

109

178

Acetyl Chain

132

138

Other Activities (1)

Total

256

364

101

Non-Operating Pension and Other Post-Retirement Employee Benefit (Expense) Income Attributable to Celanese Corporation

Engineered Materials

—

Acetyl Chain

—

Other Activities (1)

(28

)

(35

)

Total

(20

)

(27

)

Certain Items Attributable to Celanese Corporation (Table 8)

Engineered Materials

1,572

1,495

1,851

1,625

Acetyl Chain

Other Activities (1)

(20

)

136

Total

1,639

1,520

2,009

1,696

114

102

Adjusted EBIT / Adjusted EBIT Margin

Engineered Materials

720

13.4

183

14.3

200

14.5

213

14.8

124

9.6

841

15.0

143

11.3

235

15.9

263

17.9

200

14.5

Acetyl Chain

695

16.4

146

15.5

187

17.6

195

17.5

167

15.0

1,097

23.0

252

22.7

275

23.1

276

23.0

294

23.3

Other Activities (1)

(265

)

(78

)

(61

)

(66

)

(60

)

(313

)

(76

)

(56

)

(91

)

(90

)

Total

1,150

12.0

251

11.4

326

13.5

342

13.5

231

9.7

1,625

15.8

319

13.5

454

17.1

448

16.9

404

15.5

(1)

Other Activities includes corporate SG&A expenses, results of captive insurance companies and certain components of net periodic benefit cost (interest cost, expected return on plan assets and net actuarial gains and losses).

Table 2

Supplemental Segment Data and Reconciliation of Segment Adjusted EBIT and Operating EBITDA - Non-GAAP Measures - Unaudited (cont.)

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions, except percentages)

Depreciation and Amortization Expense (1)

Engineered Materials

441

105

115

112

109

437

114

111

110

102

Acetyl Chain

252

244

Other Activities (2)

Total

743

184

191

188

180

728

184

187

181

176

Operating EBITDA / Operating EBITDA Margin

Engineered Materials

1,161

21.5

288

22.6

315

22.8

325

22.5

233

18.1

1,278

22.8

257

20.3

346

23.4

373

25.4

302

21.9

Acetyl Chain

947

22.4

210

22.3

250

23.6

259

23.2

228

20.4

1,341

28.2

315

28.4

338

28.4

337

28.0

351

27.8

Other Activities (2)

(215

)

(63

)

(48

)

(54

)

(50

)

(266

)

(69

)

(43

)

(81

)

(73

)

Total

1,893

19.8

435

19.7

517

21.4

530

20.9

411

17.2

2,353

22.9

503

21.3

641

24.2

629

23.7

580

22.2

(1)

Excludes accelerated depreciation and amortization expense, which amounts are included in Certain Items above. See Table 1 for details.

(2)

Table 3

Adjusted Earnings (Loss) per Share - Reconciliation of a Non-GAAP Measure - Unaudited

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

per share

(In $ millions, except per share data)

Earnings (loss) from continuing operations attributable to Celanese Corporation

(1,144

)

(10.44

)

0.23

(1,357

)

(12.39

)

207

1.89

(19

)

(0.17

)

(1,534

)

(14.04

)

(1,920

)

(17.55

)

115

1.05

153

1.40

118

1.08

Income tax provision (benefit)

(90

)

(15

)

(77

)

507

384

Earnings (loss) from continuing operations before tax

(1,234

)

(1,364

)

130

(10

)

(1,027

)

(1,536

)

176

182

151

Certain Items attributable to Celanese Corporation (Table 8)

1,639

1,520

2,009

1,696

114

102

Refinancing and related expenses

—

Adjusted earnings (loss) from continuing operations before tax

473

156

172

982

160

290

284

248

Income tax (provision) benefit on adjusted earnings (1)

(36

)

(15

)

(88

)

(14

)

(26

)

(26

)

(22

)

Adjusted earnings (loss) from continuing operations (2)

437

3.98

0.67

147

1.34

157

1.43

0.54

894

8.18

146

1.33

264

2.41

258

2.36

226

2.06

Diluted shares (in millions) (3)

Weighted average shares outstanding

109.5

109.6

109.5

109.4

109.3

109.4

109.3

109.1

Incremental shares attributable to equity awards

0.2

—

0.2

—

0.2

0.4

Total diluted shares

109.7

109.8

109.6

109.7

109.4

109.3

109.4

109.5

(1)

Calculated using adjusted effective tax rates (Table 3a) as follows:

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

Adjusted effective tax rate

Excludes the immediate recognition of actuarial gains and losses and the impact of actual vs. expected plan asset returns.

Actual Plan Asset Returns

Expected

Plan Asset

Returns

(In percentages)

Q4 '25 & 2025

7.8

5.3

Q4 '24 & 2024

2.5

5.3

Potentially dilutive shares are included in the adjusted earnings per share calculation when adjusted earnings are positive.

Table 3a

Adjusted Tax Rate - Reconciliation of a Non-GAAP Measure - Unaudited

Actual

2025

2024

(In percentages)

U.S. GAAP annual effective tax rate

(50

)

Discrete quarterly recognition of GAAP items (1)

Tax impact of other charges and adjustments (2)

(12

)

Changes in valuation allowances, excluding impact of other charges and adjustments (3)

(12

)

(40

)

Other, includes effect of discrete current year transactions (4)

—

Adjusted tax rate

(1)

Such as changes in tax laws (including U.S. tax reform), deferred taxes on outside basis differences, changes in uncertain tax positions and prior year audit adjustments.

(2)

Reflects the tax impact on pre-tax adjustments presented in Certain Items (Table 8), which are excluded from pre-tax income for adjusted earnings per share purposes.

(3)

Reflects changes in valuation allowances related to changes in judgment regarding the realizability of deferred tax assets or current year operations, excluding other charges and adjustments.

(4)

Includes tax impacts related to full-year actual tax opportunities and related costs, as well as current year realization of U.S. GAAP benefits deferred in prior years.

Table 4

Net Sales by Segment - Unaudited

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions)

Engineered Materials

5,390

1,277

1,384

1,442

1,287

5,595

1,269

1,481

1,467

1,378

Acetyl Chain

4,232

940

1,061

1,115

1,116

4,763

1,110

1,190

1,202

1,261

Intersegment eliminations (1)

(78

)

(13

)

(26

)

(25

)

(14

)

(90

)

(21

)

(23

)

(18

)

(28

)

Net sales

9,544

2,204

2,419

2,532

2,389

10,268

2,358

2,648

2,651

2,611

(1)

Includes intersegment sales primarily related to the Acetyl Chain.

Table 4a

Factors Affecting Segment Net Sales Sequentially - Unaudited

Three Months Ended December 31, 2025 Compared to Three Months Ended September 30, 2025

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

—

)

Acetyl Chain

(10

)

—

(11

)

Total Company

)

—

)

Three Months Ended September 30, 2025 Compared to Three Months Ended June 30, 2025

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

Acetyl Chain

)

Total Company

)

Three Months Ended June 30, 2025 Compared to Three Months Ended March 31, 2025

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

—

Acetyl Chain

)

—

Total Company

)

Three Months Ended March 31, 2025 Compared to Three Months Ended December 31, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

—

)

Acetyl Chain

)

Total Company

—

)

Three Months Ended December 31, 2024 Compared to Three Months Ended September 30, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

(10

)

(14

)

Acetyl Chain

)

Total Company

)

(11

)

Three Months Ended September 30, 2024 Compared to Three Months Ended June 30, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

—

Acetyl Chain

—

)

Total Company

—

)

—

Three Months Ended June 30, 2024 Compared to Three Months Ended March 31, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

—

)

Acetyl Chain

)

—

)

Total Company

)

—

Three Months Ended March 31, 2024 Compared to Three Months Ended December 31, 2023

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

—

)

Acetyl Chain

Total Company

—

Table 4b

Factors Affecting Segment Net Sales Year Over Year - Unaudited

Three Months Ended December 31, 2025 Compared to Three Months Ended December 31, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

—

Acetyl Chain

(10

)

(15

)

Total Company

)

Three Months Ended September 30, 2025 Compared to Three Months Ended September 30, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

Acetyl Chain

)

(11

)

Total Company

)

Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

Acetyl Chain

)

Total Company

)

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

Acetyl Chain

)

(11

)

Total Company

)

Three Months Ended December 31, 2024 Compared to Three Months Ended December 31, 2023

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

—

)

Acetyl Chain

)

—

)

Total Company

)

—

)

Three Months Ended September 30, 2024 Compared to Three Months Ended September 30, 2023

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

—

)

Acetyl Chain

)

—

)

Total Company

—

)

—

)

Three Months Ended June 30, 2024 Compared to Three Months Ended June 30, 2023

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

Acetyl Chain

)

Total Company

)

Three Months Ended March 31, 2024 Compared to Three Months Ended March 31, 2023

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

(12

)

(15

)

Acetyl Chain

(10

)

—

Total Company

)

Table 4c

Factors Affecting Segment Net Sales Year Over Year - Unaudited

Year Ended December 31, 2025 Compared to Year Ended December 31, 2024

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

Acetyl Chain

)

(11

)

Total Company

)

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023

Volume

Price

Currency

Total

(In percentages)

Engineered Materials

)

Acetyl Chain

)

—

)

Total Company

)

Table 5

Free Cash Flow - Reconciliation of a Non-GAAP Measure - Unaudited

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions, except percentages)

Net cash provided by (used in) investing activities

(349

)

(104

)

(59

)

(88

)

(98

)

(470

)

(128

)

(100

)

(91

)

(151

)

Net cash provided by (used in) financing activities

(513

)

(324

)

(118

)

(116

)

(1,313

)

(189

)

(376

)

(489

)

(259

)

Net cash provided by (used in) operating activities

1,146

252

447

410

966

494

292

101

Capital expenditures on property, plant and equipment

(343

)

(84

)

(64

)

(93

)

(102

)

(435

)

(105

)

(88

)

(105

)

(137

)

Contributions from/(Distributions) to NCI

(30

)

(33

)

(14

)

Free cash flow (1)

773

160

375

311

(73

)

498

381

(16

)

173

(40

)

Net sales

9,544

2,204

2,419

2,532

2,389

10,268

2,358

2,648

2,651

2,611

Free cash flow as % of Net sales

8.1

7.3

15.5

12.3

(3.1

4.9

16.2

(0.6

6.5

(1.5

(1)

Free cash flow is a liquidity measure used by the Company and is defined by the Company as net cash provided by (used in) operating activities, less capital expenditures on property, plant and equipment, and adjusted for contributions from or distributions to our NCI joint ventures.

Table 6

Cash Dividends Received - Unaudited

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions)

Dividends from equity method investments

139

160

Dividends from equity investments without readily determinable fair values

122

128

Total

261

288

100

Table 7

Net Debt - Reconciliation of a Non-GAAP Measure - Unaudited

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

(In $ millions)

Short-term borrowings and current installments of long-term debt - third party and affiliates

1,204

1,199

252

406

1,501

1,607

1,977

2,439

Long-term debt, net of unamortized deferred financing costs

11,394

11,655

12,689

12,378

11,078

11,324

11,058

11,018

Total debt

12,598

12,854

12,941

12,784

12,579

12,931

13,035

13,457

Cash and cash equivalents

(1,263

)

(1,263

)

(1,440

)

(1,173

)

(951

)

(962

)

(962

)

(813

)

(1,185

)

(1,483

)

Net debt

11,335

11,414

11,768

11,833

11,617

12,118

11,850

11,974

Table 8

Certain Items - Unaudited

The following Certain Items attributable to Celanese Corporation are included in Net earnings (loss) and are adjustments to non-GAAP measures:

2025

Q4 '25

Q3 '25

Q2 '25

Q1 '25

2024

Q4 '24

Q3 '24

Q2 '24

Q1 '24

Income Statement Classification

(In $ millions)

Exit and shutdown costs

236

Cost of sales / SG&A / Other (charges) gains, net / Gain (loss) on disposition of businesses and assets, net / Non-operating pension and other postretirement employee benefit (expense) income

Asset impairments

1,513

(1)

1,486

(2)

—

1,638

1,601

(3)

(4)

—

Cost of sales / Other (charges) gains, net

Impact from plant incidents and natural disasters

—

Cost of sales

Mergers, acquisitions and dispositions

Cost of sales / SG&A

Actuarial (gain) loss on pension and postretirement plans

(49

)

(49

)

—

Cost of sales / SG&A / Non-operating pension and other postretirement employee benefit (expense) income

Legal settlements and commercial disputes

)

Cost of sales / SG&A / Other (charges) gains, net

(Gain) loss on disposition of businesses and assets

—

Gain (loss) on disposition of businesses and assets, net

Other

—

Cost of sales / SG&A

Certain Items attributable to Celanese Corporation

1,639

1,520

2,009

1,696

114

102

(1)

Related to impairment of certain long-lived assets arising from unused parcels of property subsequently sold.

(2)

Related to impairment of goodwill and certain trade names, primarily Zytel ®, arising from our annual goodwill and indefinite-lived intangible assets impairment tests.

(3)

Related to impairment of goodwill and certain trade names, primarily Zytel ®, arising from our interim goodwill and indefinite-lived intangible assets impairment tests.

(4)

Related to impairment of certain trade names, primarily Zytel ®, in connection with our annual goodwill and indefinite-lived intangible asset impairment tests.

Table 9

Return on Invested Capital (Adjusted) - Presentation of a Non-GAAP Measure - Unaudited

2025

2024

(In $ millions, except percentages)

Net earnings (loss) attributable to Celanese Corporation

(1,165

)

(1,542

)

Adjusted EBIT (Table 1)

1,150

1,625

Adjusted effective tax rate (Table 3a)

Adjusted EBIT tax effected

1,058

1,479

2025

2024

Average

2024

2023

Average

(In $ millions, except percentages)

Short-term borrowings and current installments of long-term debt - third parties and affiliates

1,204

1,501

1,353

1,501

1,383

1,442

Long-term debt, net of unamortized deferred financing costs

11,394

11,078

11,236

11,078

12,301

11,690

Celanese Corporation shareholders' equity

4,049

5,129

4,589

5,129

7,065

6,097

Invested capital

17,178

19,229

Return on invested capital (adjusted)

6.2

7.7

Net earnings (loss) attributable to Celanese Corporation as a percentage of invested capital

(6.8

(8.0